According to the U.S. Bureau of Labor Statistics, prices for commodities less food and energy commodities are 13.91% higher in 2022 versus 2020 (a $2.78 difference in value).
Between 2020 and 2022: Commodities less food and energy commodities experienced an average inflation rate of 6.73% per year. This rate of change indicates significant inflation. In other words, commodities less food and energy commodities costing $20 in the year 2020 would cost $22.78 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.55% during this same period, inflation for commodities less food and energy commodities was higher.
In the year 2020: Pricing changed by 0.15%, which is significantly below the average yearly change for commodities less food and energy commodities during the 2020-2022 time period. Compared to inflation for all items in 2020 (1.23%), inflation for commodities less food and energy commodities was lower.
Below are calculations of equivalent buying power for Commodities less food and energy commodities, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Commodities less food and energy commodities: